Modern Wealth Management LLC Purchases Shares of 3,011 Boston Scientific Co. (NYSE:BSX)

Modern Wealth Management LLC acquired a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,011 shares of the medical equipment provider’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also modified their holdings of BSX. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $29,000. Dunhill Financial LLC grew its stake in shares of Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Down 1.5 %

Shares of Boston Scientific stock opened at $99.29 on Friday. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The stock has a market capitalization of $146.86 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The business’s 50 day simple moving average is $102.16 and its 200-day simple moving average is $93.04.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

BSX has been the subject of several recent research reports. TD Cowen increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Piper Sandler lifted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Royal Bank of Canada raised their target price on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $108.91.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 1,201 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the sale, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 in the last ninety days. Company insiders own 0.50% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.